Dimensional Fund Advisors LP Acquires 309,347 Shares of Comstock Inc. $LODE

Key Points

• Dimensional Fund Advisors increased its Comstock stake by 162.1%, purchasing 309,347 additional shares to hold 500,171 shares worth approximately $1.53 million, or 0.66% of the company.
• Comstock shares opened at $3.46, while the company reported a quarterly loss of $0.34 per share on $0.27 million in revenue. Analysts expect a full-year loss of $0.33 per share.
• Insiders have been buying shares, including purchases by the CEO and a director, but analyst sentiment remains cautious: UBS maintained a “Reduce” rating, with a consensus price target of $4.00.

Dimensional Fund Advisors LP raised its holdings in Comstock Inc. (NYSEAMERICAN:LODE - Free Report) by 162.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 500,171 shares of the company's stock after purchasing an additional 309,347 shares during the quarter. Dimensional Fund Advisors LP owned 0.66% of Comstock worth $1,525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LODE. Rockefeller Capital Management L.P. increased its position in Comstock by 133.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the company's stock worth $26,000 after purchasing an additional 4,000 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Comstock during the fourth quarter worth $39,000. Wealth Effects LLC acquired a new position in shares of Comstock during the first quarter worth $34,000. MML Investors Services LLC bought a new position in shares of Comstock in the 4th quarter valued at $45,000. Finally, Virtu Financial LLC bought a new position in shares of Comstock in the 3rd quarter valued at $44,000. Institutional investors own 7.96% of the company's stock.

Comstock Trading Up 0.6%

Shares of LODE stock opened at $3.46 on Friday. The company's fifty day simple moving average is $3.82 and its two-hundred day simple moving average is $3.45. The stock has a market capitalization of $262.93 million, a price-to-earnings ratio of -3.36 and a beta of 1.42. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.20 and a quick ratio of 3.20. Comstock Inc. has a 1 year low of $2.24 and a 1 year high of $4.98.

Comstock (NYSEAMERICAN:LODE - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported ($0.34) earnings per share (EPS) for the quarter. Comstock had a negative return on equity of 30.98% and a negative net margin of 6,016.37%.The firm had revenue of $0.27 million during the quarter. As a group, analysts anticipate that Comstock Inc. will post -0.33 earnings per share for the current year.

Insider Activity

In other news, Director Leo M. Drozdoff purchased 7,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were purchased at an average price of $4.11 per share, with a total value of $28,770.00. Following the completion of the acquisition, the director owned 193,474 shares in the company, valued at $795,178.14. This trade represents a 3.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Corrado Degasperis purchased 10,682 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average cost of $3.98 per share, for a total transaction of $42,514.36. Following the acquisition, the chief executive officer owned 181,500 shares of the company's stock, valued at approximately $722,370. This trade represents a 6.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 652,092 shares of company stock valued at $2,638,639 over the last 90 days. Company insiders own 2.70% of the company's stock.

Analyst Ratings Changes

Separately, UBS Group reissued a "reduce" rating on shares of Comstock in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $4.00.

Comstock Profile

Comstock Mining, Inc NYSE: LODE is a growth-oriented mineral exploration and production company focused on the historic Comstock Lode in Virginia City, Nevada. The company’s primary business activities include the development, extraction and sale of gold and silver from its flagship Lucerne project. Comstock leverages modern mining techniques and infrastructure to access high-grade ore bodies in one of North America’s most renowned silver-gold districts.

In addition to its core precious metals operations, Comstock Mining maintains a commercial real estate division centered in Virginia City’s historic district.

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